DA sees no redux of rice price caps

INQUIRER FILE PHOTO/GRIG C. MONTEGRANDE

The Department of Agriculture (DA) will not recommend price ceilings or suggested retail prices for rice even if the grain’s prices are affected by a higher inflation rate. Arnel de Mesa, assistant secretary and spokesperson for the DA, said on Saturday that price caps have been proven to have adverse effects on the industry. He made the remarks days after the Philippine Statistics Authority (PSA) said there will be a faster increase in the prices of rice until July this year. The PSA said rice inflation went up to 24.4 percent in March, up from the 23.7 percent recorded in February—and that rice inflation is expected to slow down by August this year. In September 2023, President Marcos issued Executive Order No. 39, which imposed a monthlong price cap of P41 per kilo of regular-milled rice and P45 per kilo of well-milled rice. De Mesa pointed out that despite the higher, year-on-year rice inflation prices of rice are actually declining each month. He said rice prices dropped to P49 to P50 per kilo this month, from P52 per kilo last month. —JULIE M. AURELIO